Apr 27 2015

Comerica Revenue Down In Very First Quarter But Loans Up.

Comerica Inc. saw its revenue fall 3 percent to $134 million in the first quarter, compared to $139 million in the year-ago quarter.

Nevertheless, typical overall loans increased 7 percent.

The Dallas-based business stated the revenue decrease was because of higher processing expenditures, greater arrangements for credit losses and greater labor costs.

Our very first quarter results reflect our strong concentrate on relationships and capability to produce loans in an extremely competitive environment as we maintain our rates and credit discipline, said Ralph W. Babb, Jr., chairman and CEO.

Per-share profits were flat at 73 cents.

Comerica stock closed at $46 on Friday, down 20 cents.